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Mar 18, 2013
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you're going to tax foreigners instead of taxing your own people. that's one of the rationales for doing this. >> you don't go into that cycle of more austerity and the worst economy, more austerity and worse economy. >> right. >> you can see why they've done it. >> you can. i think the real is why would you go below the insurance threshold? it's such a killer of confidence. why would you risk that and i am told by numerous sources and it's because the president of cyprus didn't want to go above 9.9% originally the same way the dollar store doesn't want to price over 99 cents and he didn't want to tell the foreign depositors that he would take 16% of their money. >> in essence they're taxing the poor in order to keep the offshore on moo. >> to keep their business intact. >> great reporting. we'll come back to you in the show. >> let us bring in charlie and director of research with ariel investments as well as gary thayer, chief macro strategist with wells fargo advisers. gary, first to you. does this change your overall view on the u.s. stock marke
you're going to tax foreigners instead of taxing your own people. that's one of the rationales for doing this. >> you don't go into that cycle of more austerity and the worst economy, more austerity and worse economy. >> right. >> you can see why they've done it. >> you can. i think the real is why would you go below the insurance threshold? it's such a killer of confidence. why would you risk that and i am told by numerous sources and it's because the president of...
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Mar 25, 2013
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or nobody collects the tax. i'm not for taxes at all on these kinds of goods but i think it's got to be fair for everybody because it hurts local businesses if internet companies can do it without tax. but for us, our agenda is we don't think students should be paying tax on any educational material. they're already overburn denned with expenses and in debt. we shouldn't tax learning material. we hope that somehow gets event. >> any feeling as to how many states will jump on board now that they've been given this all clearab by the senate? >> the state of california has a bill in front of it now. it's interesting because it's only for buying which is opposed to what we do which is renting. they're trying to make a loophole which says if you rent you still have to collect taxes. for us, we're going to keep making the point that students are over burdened already. it's a an unfair tax and we want them to be able to get the material without the tax. >> just overall, business sense, we got sort of a reprieve from wa
or nobody collects the tax. i'm not for taxes at all on these kinds of goods but i think it's got to be fair for everybody because it hurts local businesses if internet companies can do it without tax. but for us, our agenda is we don't think students should be paying tax on any educational material. they're already overburn denned with expenses and in debt. we shouldn't tax learning material. we hope that somehow gets event. >> any feeling as to how many states will jump on board now...
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Mar 19, 2013
03/13
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it back and pay the taxes. that's an enormous issue for apple that's close to 70% of its cash overseas and it's not an easy answer for that today. and it could be $170 billion by the end of this year says the financial times this morning and what does it mean for the sector moving forward? so far it's disappointed many, many people. >> i guess the question is how do they put that cash to use? many of us would like to see greater buybacks and greater dividends and could there be more m and a coming which would be positive for the market. in the interim, stronger dividends and stronger buybacks is something that should help at least on the margin. >> let's just say, will, ceo tim cook picks up the phone and gives you a call and says hey, will, what do you think we should do with our cash? what would you tell him? >> i think they should increase the dividend moderately. they're generating $40 billion a year in free cash flow and that could be a 15 billion number and maybe even a $20 billion annual dividend. >> let
it back and pay the taxes. that's an enormous issue for apple that's close to 70% of its cash overseas and it's not an easy answer for that today. and it could be $170 billion by the end of this year says the financial times this morning and what does it mean for the sector moving forward? so far it's disappointed many, many people. >> i guess the question is how do they put that cash to use? many of us would like to see greater buybacks and greater dividends and could there be more m and...
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Mar 21, 2013
03/13
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the president, congress, they decided to raise taxes on the wealthy, put through a payroll tax increase, entitlements. we've got two out of three going. we had the president and congress raising taxes on the wealthy. i don't think bernanke wants to be the fed of 1937 because the recession came back aggressively and it was only world war ii that made the hiring come back. he doesn't want to be the guy -- he'd rather be second-guessed by all the bears who come on and say he's got to tighten because my short positions aren't making any money. he's not responding to the people who are short. he's actually responding to the american people. old-fashioned kind of guy. >> in terms of the reaction in the markets after the ben bernanke news conference, was that surprising at all that, for whatever reason, for whatever he said, the markets managed to rise and actually reached the highs of the day afterwards? >> i think there were a lot of people who expected that he would put in some language that just says, we're not going to keep rates low indefinitely because we see real estate, affordability
the president, congress, they decided to raise taxes on the wealthy, put through a payroll tax increase, entitlements. we've got two out of three going. we had the president and congress raising taxes on the wealthy. i don't think bernanke wants to be the fed of 1937 because the recession came back aggressively and it was only world war ii that made the hiring come back. he doesn't want to be the guy -- he'd rather be second-guessed by all the bears who come on and say he's got to tighten...
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Mar 26, 2013
03/13
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. >> and we'll get michigan later and i'm just thinking are they payroll tax cut explorations because the home values appear to be going up. upon why are they so worried? >> think we just went through the debate around the sequestration although it went into effect and we haven't seen the real impact of it yet and that still hangs out there now and there's some concern in consumers as to the issues that are out there. it's not that much of a surprise that there's some concern, but you look at the rest of the economic backdrop and it remains pretty positive. job growth is up and consumer spending continues to be positive so i would rather see what they're doing than what they're saying. >> that's always what we say when the confidence numbers come out. michelle, you went into the year relatively cautious as i recall. you upped your targets on gdp for the first half. >> we have. how would you describe your mindset right now. has cautious not worked as a strategy? >> i think cautious is still probable the right approach. we revised q-1 gdp to 1% on the back of better retail sales numbers
. >> and we'll get michigan later and i'm just thinking are they payroll tax cut explorations because the home values appear to be going up. upon why are they so worried? >> think we just went through the debate around the sequestration although it went into effect and we haven't seen the real impact of it yet and that still hangs out there now and there's some concern in consumers as to the issues that are out there. it's not that much of a surprise that there's some concern, but...
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Mar 22, 2013
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so what we're going to see is does this effort to collect these taxes have more than 60 votes? if it does, that's going give momentum to this cause later on in the congress, maybe give a push to the effort in the house although it's going to run into the difficult anti-tax sentiment in the house among republicans. so not by a long shot is this thing close to passage, but at least we'll find out whether it has a chance of passage later on in this congress, simon. >> we'll come back to you later in the program, thank you, john. john harwood live from washington. our local partners in italy are reporting now that because this may develop over the weekend that the center left leader pisani in italy has been asked by the president to attempt to form a government. it is not clear whether he'll be able to do that or whether we'll still go to a caretaker government until there are fresh elections and there may be movement on this over the weekend particularly if he can do a deal with berlusconi. in the meantime we have breaking news. >> it's not breaking news. reuters is sending it to
so what we're going to see is does this effort to collect these taxes have more than 60 votes? if it does, that's going give momentum to this cause later on in the congress, maybe give a push to the effort in the house although it's going to run into the difficult anti-tax sentiment in the house among republicans. so not by a long shot is this thing close to passage, but at least we'll find out whether it has a chance of passage later on in this congress, simon. >> we'll come back to you...
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Mar 20, 2013
03/13
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the other thing is the continue ou blame game about taxing deposits. we sat down with the head of the local group of certified public accountants. i said, listen, you're an educated guy. you must have had a lot of wealthy clients and business people. here's what he said. >> all the assurances they get from european officials was that their deposits are not at risk. there may be other need for additional taxes for significant government cuts. the loans actually supports their banking system. but there was never discussion of any cut on depolisitsdeposit >> in other words, they were expecting traditional types of austerity. when we have more news we'll get it to you. >> let's cross over to moscow with steve sedgwick. we used to be colleagues in london for a long time. i know you've done a lot of reporting in moscow. isn't it the case that the russians will string the cypriots along here? they will get much more if they need to when the banking system collapses if that's where we're headed. surely. >> yeah, simon, you make a very good point. there's a lot
the other thing is the continue ou blame game about taxing deposits. we sat down with the head of the local group of certified public accountants. i said, listen, you're an educated guy. you must have had a lot of wealthy clients and business people. here's what he said. >> all the assurances they get from european officials was that their deposits are not at risk. there may be other need for additional taxes for significant government cuts. the loans actually supports their banking...